FX.co ★ Indicator analysis: EUR/USD daily review on January 2, 2023

Trend analysis (Fig. 1)

EUR/USD may start moving downwards from the level of 1.0706 (closing of Friday's daily candle) towards the support level of 1.0673 (thick white line). Upon testing the level, it will resume going up to the target level of 1.0773, which is the upper fractal level (yellow dotted line).

Fig. 1 (daily chart)

Comprehensive analysis:

Indicator analysis - downtrend

Fibonacci levels - downtrend

Volumes - downtrend

Candlestick analysis - uptrend

Trend analysis - uptrend

Bollinger bands - uptrend

Weekly chart - uptrend

Conclusion: EUR/USD will decline from 1.0706 (closing of Friday's daily candle) to the support level of 1.0673 (thick white line), then bounce up the upper fractal at 1.0773 (yellow dotted line).

Alternatively, the pair could climb up from 1.0706 (closing of Friday's daily candle) to the upper fractal at 1.0735, then fall down to the support level of 1.0656 (thick white line).